Quote:
TUESDAY, MAY 20, 2008 Halleluiah! House Dems Solve Oil Crisis-- Will Sue OPECHalleluiah!
The Democratic Congress solved the oil crisis!
By developing new sources of petroleum?-- No
By drilling in ANWR?-- No
By drilling off the coast of Florida?-- No
By drilling off of the east coast?-- No
By drilling off of the west coast?-- No
By drilling off the Alaskan coast?-- No
By building oil refineries?-- No
By developing shale oil deposits?-- No
By adding nuclear energy production?-- No
By adding clean coal production?-- No
House Democrats passed legislation today to sue OPEC to bring down gas prices.
Brilliant-- A law suit against OPEC.
The Arab leaders ought to get a good belly laugh out of that. Why is this not surprising? Reuters reported:
Quote:
The House of Representatives overwhelmingly approved legislation on Tuesday allowing the Justice Department to sue OPEC members for limiting oil supplies and working together to set crude prices, but the White House threatened to veto the measure.The bill would subject OPEC oil producers, including Saudi Arabia, Iran and Venezuela, to the same antitrust laws that U.S. companies must follow.
The measure passed in a 324-84 vote (Roll Call Here), a big enough margin to override a presidential veto.
The legislation also creates a Justice Department task force to aggressively investigate gasoline price gouging and energy market manipulation.
"This bill guarantees that oil prices will reflect supply and demand economic rules, instead of wildly speculative and perhaps illegal activities," said Democratic Rep. Steve Kagen of Wisconsin, who sponsored the legislation.
The lawmaker said Americans "are at the mercy" of OPEC for how much they pay for gasoline, which this week hit a record average of $3.79 a gallon.
The White House opposes the bill, saying that targeting OPEC investment in the United States as a source for damage awards "would likely spur retaliatory action against American interests in those countries and lead to a reduction in oil available to U.S. refiners."
Our nation's politicians are downright ignorant. I hope that we replace each and every one of them.
